Why Milk Prices Could Skyrocket

Congress is currently focused on the farm bill, which has been weighed down thanks to disagreements over America's food stamp program. According to the Associated Press, if Congress doesn't make the looming January 1 deadline for the bill's completion, the price of milk could increase significantly. Certain dairy subsidies are set to expire on New Year's Day, and if a new law isn't set to stop it, Americans may see higher milk prices. The House and Senate Agriculture committees were optimistic after a meeting earlier this week, but other members of Congress have expressed skepticism about finding a compromise by January 1.